Sony Computer Entertainment America has announced that it has dropped the suggested retail price of its PlayStation 2 console to $129.99 in American (and $139.99 CND in Canada), effective immediately, down from a U.S. price point of $149.99, following analyst predictions to that effect earlier this month.

The company commented that it "expects this latest price move to fuel consumer demand even further" for its current-gen device - the console sold almost 275,000 units in North America in March, ahead of all other game hardware, including the Xbox 360, which was continuing to suffer hardware shortages at the time.

Sony also updated on statistics, revealing that more than 101 million PlayStation 2 units and approximately one billion pieces of software for the PlayStation 2 have shipped worldwide, and that the PlayStation 2 has a 55.6 percent hardware units share in the U.S., more than double of any other console.

The company plans to support this new pricing initiative through marketing activities covering print and online advertising, and in-store merchandising support. Print advertising breaks on April 27th and will reach millions of readers nationwide through placements in a variety of daily newspapers including the Boston Globe, Chicago Tribune, Los Angeles Times, New York Times and Philadelphia Inquirer. Online advertising will also begin on April 27th on sites such as AOL.

"While we continue to innovate and design groundbreaking new products, we remain dedicated to our long-term vision for the PlayStation 2 platform," said Kaz Hirai, president and CEO, Sony Computer Entertainment America. "Now even more consumers, as well as casual gamers, can experience what the PlayStation 2 platform has to offer -- an unrivaled combination of the largest selection of software, a growing community for online gaming and one-of-a-kind accessories such as EyeToy -- at a new value price."